Islamabad: Pakistan and China on Monday signed an agreement worth USD 1.5 billion for the construction of Azad Pattan Hydel Power Project, according to news sources.
Prime Minister (PM) Imran Khan witnessed the ceremony and said that the China-Pakistan Economic Corridor (CPEC) project will be known as a ‘milestone’ in the country’s prosperity and development, adding that the CPEC is ‘the future of Pakistan’.
Furthermore, Khan opined that the country could learn from China, which is fast on its way to emerge as an economic power. When referring to the inking of the agreement, Khan said that it was part of the investment that will fund a power project based on clean energy. He said that the hydropower generation is considered a great and environment-friendly source of clean energy – which is also in line with the government’s ‘Clean and Green Pakistan’ campaign.
Meanwhile, Lt Gen (retired) Bajwa highlighted that the Azad Pattan Hydel Power project will create 3,000 jobs and will generate an annual revenue of PKR 1.38 billion for both Punjab and Azad Kashmir. He further said that with this investment and no additional fuel import, the country is moving towards cheaper and greener energy.